Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
hodlmybtc
on 24/07/2014, 02:09:54 UTC
As an Aussie, I have to say, all these retailers offering BTC payment are completely missing the point. Why would an American pay with BTC? A credit card is surely much much easier. It's us foreigners that need it, we get screwed by the currency conversion. At the moment the only person paying with BTC is someone that already had them, probably purchased much much cheaper, and is in effect cashing out. Nobody in their right mind would buy BTC just to purchase something online, the hassle and time involved is still ridiculous. But for something like a laptop, where currency conversion is usually around 3 -5 % of price, it could make a $100 dollar difference to everyone overseas, which would definitely drive adoption.   

Dell, Overstock et al, get your shit together!!

It seems you are missing the point.

The retailers accept BTC payments because it's easy, costs them less fees than creditcard payments and there is no risk of chargebacks.

Also paying with BTC (if you already have it) is easier for the consumer, also there is no risk of identity fraud and your creditcard details won't get saved somewhere in plaintext.

Dell and Newegg also gave people the incentive to buy BTC if they didn't already have it by giving discounts